象徵性的黃金市值攀升至3月的14億美元

市場價值和活動的增長發生在物理黃金屬的集會上，以高於每盎司3,000美元的新鮮高度

The market capitalization of tokenized gold climbed to a record $1.4 billion in March, while trading volumes soared to yearly highs, according to CoinDesk Data's monthly stablecoin report.

根據Coindesk Data每月的Stablecoin報告，三月份的標記黃金市值攀升至3月14億美元，而交易量飆升至每年高點。

The growth in market value and activity happened alongside the physical yellow metal's rally to fresh all-time highs above $3,000 per ounce. Tether's gold-backed token (XAUT) and Paxos' PAXG (Paxos Standard) dominate among the offerings, with market capitalizations of $749 million and $653 million, respectively.

市場價值和活動的增長發生在物理黃金屬的集會上，到達每盎司3,000美元以上的新鮮高點。 Tether的金牌代幣（XAUT）和Paxos的Paxg（Paxos Standard）在產品中占主導地位，市值分別為7.49億美元和6.53億美元。

The trading volume with gold tokens surpassed $1.6 billion through the month, the highest level in more than a year.

黃金令牌的交易量超過了16億美元，這是一年多以上的最高水平。

Overall, the stablecoin market, which includes tokens with prices pegged to fiat currencies and commodities, climbed above $231 billion this month, continuing to grow for the 18th consecutive month.

總體而言，斯塔布萊幣市場（Stablecoin Market）包括與法定貨幣和商品掛鉤的代幣，本月攀升至2310億美元以上，連續第18個月持續增長。

Tether's USDT, the largest stablecoin on the market, also increased to a record supply of $144 billion. However, its market share dropped to the lowest level (62.1%) since March 2023 as the stablecoin landscape is getting increasingly competitive. Circle's USDC, the second-largest stablecoin, grew 7% in a month to near $60 billion.

Tether的USDT是市場上最大的Stablecoin，也增加到創紀錄的1440億美元。但是，由於Stablecoin景觀越來越具競爭力，因此其市場份額下降到自2023年3月以來的最低水平（62.1％）。 Circle的USDC是第二大Stablecoin，一個月內增長了7％，達到600億美元。

Decentralized finance protocol Ethena's recently launched dollar stablecoin USDtb, which uses BlackRock's tokenized money market fund BUIDL as a reserve asset, quickly gobbled up over $1 billion of assets to become the 8th largest by market cap.

分散的金融協議Ethena最近推出的Dollar Stablecoin USDTB，該公司使用BlackRock的代幣貨幣市場基金Buidl作為儲備資產，很快就增加了超過10億美元的資產，成為市場上限的第8大資產。

In terms of trading volumes on centralized exchanges, USDT's dominance slightly declined, but still stood above competition at 75.7% through the month among the top ten stablecoins. Meanwhile, USDC and Hong Kong-based First Digital's FDUSD saw their trading market cap dominance rise to 13.6% and 10%, respectively.

在集中交易所的交易量方面，USDT的統治地位略有下降，但在前十名穩定股中的競爭仍然高於競爭的75.7％。同時，USDC和總部位於香港的First Digital的FDUSD分別將其交易市值統治分別上升到13.6％和10％。

Regulatory shifts have been reshaping the market of euro-denominated stablecoins, as exchanges moved to comply with the Markets in Crypto-Assets (MiCA) framework. Kraken delisted USDT and other non-compliant stablecoins for European users, following the footsteps of other exchanges such as Coinbase and Crypto.com.

隨著交易所轉移到遵守加密資產（MICA）框架的市場，監管轉變已經重塑了歐元計時的Stablecoins市場。 Kraken遵循Coinbase和Crypto.com等其他交易所的腳步，為歐洲用戶提供了USDT和其他不合格的穩定劑。

Circle's EURC stablecoin was a notable beneficiary of the developments, growing nearly 30% to $157 million market cap and claiming a 45% market share of all euro stablecoins.

Circle的Eurc Stablecoin是這些事態發展的著名受益者，增長了近30％至1.57億美元的市值，並聲稱在所有歐元穩定的市場中佔有45％的市場份額。